www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com Petrobras pauses for thought on Jupiter http://www.upstreamonline.com/live/1407486/petrobras-pauses-for-thought-on-jupiter Brazil’s Petrobras has postponed indefinitely the drilling of a pair of appraisal wells on Block BM- S-24 in the Santos basin pre-salt province. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407486/petrobras-pauses-for-thought-on-jupiter Fri, 31 Jul 2015 22:28:00 +0000 live Basic eyes acquisitions with PE funding http://www.upstreamonline.com/live/1407485/basic-eyes-acquisitions-with-pe-funding Texas-based Basic Energy Services has signed a letter of intent with private equity firm Quantum Energy Partners to fund future transactions and joint ventures. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407485/basic-eyes-acquisitions-with-pe-funding Fri, 31 Jul 2015 22:20:22 +0000 live US rig count dips by two http://www.upstreamonline.com/live/1407484/us-rig-count-dips-by-two The number of rigs drilling for oil and gas in the US fell by two this week to 874, according to data from Houston-based services giant Baker Hughes. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407484/us-rig-count-dips-by-two Fri, 31 Jul 2015 18:15:01 +0000 live Chevron flows hit by Wafra shutdown http://www.upstreamonline.com/live/1407478/chevron-flows-hit-by-wafra-shutdown Chevron saw its production decline by 85,000 barrels of oil equivalent per day in the second quarter and almost half of the decline was due to the shut-in of the Wafra field due to a border dispute between host countries Kuwait and Saudi Arabia. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1407478/chevron-flows-hit-by-wafra-shutdown Fri, 31 Jul 2015 16:46:17 +0000 live ExxonMobil eyes more Guyana wells http://www.upstreamonline.com/live/1407430/exxonmobil-eyes-more-guyana-wells ExxonMobil is planning further exploration and appraisal work on a politically-contentious block off Guyana where it recently unearthed what it terms a “significant” oil discovery. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407430/exxonmobil-eyes-more-guyana-wells Fri, 31 Jul 2015 15:18:49 +0000 live Imperial profits plunge http://www.upstreamonline.com/incoming/1407463/imperial-profits-plunge Calgary-based Imperial Oil saw its profits take a huge hit in the second quarter of the year, despite an increase in oil production. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407463/imperial-profits-plunge Fri, 31 Jul 2015 15:02:37 +0000 ece_incoming Empyrean targets more Sugarloaf wells http://www.upstreamonline.com/incoming/1407455/empyrean-targets-more-sugarloaf-wells US-focused player Empyrean Energy has significantly increased its resources since the beginning of the year and is planning further appraisal and drilling at its main Sugarloaf project in Texas. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407455/empyrean-targets-more-sugarloaf-wells Fri, 31 Jul 2015 13:50:06 +0000 ece_incoming Trio prep for Foz do Amazonas drill drive http://www.upstreamonline.com/live/1407456/trio-prep-for-foz-do-amazonas-drill-drive French giant Total, UK supermajor BP and Brazilian independent Queiroz Galvao Exploration & Production (QGEP) have become the first operators to submit drilling plans for the Foz do Amazonas basin off Brazil. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407456/trio-prep-for-foz-do-amazonas-drill-drive Fri, 31 Jul 2015 13:43:23 +0000 live Apache splashes into Goodland Lime http://www.upstreamonline.com/live/1407453/apache-splashes-into-goodland-lime US independent Apache has splashed into the emerging Goodland Lime play in East Texas after purchasing a large package of leases from a couple Texas juniors. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407453/apache-splashes-into-goodland-lime Fri, 31 Jul 2015 13:14:50 +0000 live Chevron hit by impairments http://www.upstreamonline.com/live/1407431/chevron-hit-by-impairments Chevron ran up significant impairments and charges in the second quarter to send net profit crashing. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407431/chevron-hit-by-impairments Fri, 31 Jul 2015 12:36:55 +0000 live ExxonMobil profit slashed in Q2 http://www.upstreamonline.com/live/1407450/exxonmobil-profit-slashed-in-q2 ExxonMobil saw its second-quarter net profit chopped in half from a year ago as oil prices continued their slump. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407450/exxonmobil-profit-slashed-in-q2 Fri, 31 Jul 2015 12:08:45 +0000 live Sinopec ‘to relocate staff’ http://www.upstreamonline.com/incoming/1407439/sinopec-to-relocate-staff Sinopec is planning to relocate nearly 40% of its staff in its global exploration and production unit back to its headquarters, according to a report. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407439/sinopec-to-relocate-staff Fri, 31 Jul 2015 10:50:47 +0000 ece_incoming Cosco Corp dips into red http://www.upstreamonline.com/live/1407435/cosco-corp-dips-into-red Shipyard Cosco Corp (Singapore) ran up a loss in the second quarter as marine engineering activity dried up and dry-bulk shipping revenues were down. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407435/cosco-corp-dips-into-red Fri, 31 Jul 2015 10:16:39 +0000 live Afren files for administration http://www.upstreamonline.com/live/1407433/afren-files-for-administration Beleaguered explorer Afren has filed for administration after failing to get financial support for a company refinancing effort. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407433/afren-files-for-administration Fri, 31 Jul 2015 09:42:16 +0000 live Arup joins marginal field initiative http://www.upstreamonline.com/incoming/1407432/arup-joins-marginal-field-initiative Arup has joined several technology players and service providers in a new venture aimed at driving down the cost of marginal field developments. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407432/arup-joins-marginal-field-initiative Fri, 31 Jul 2015 09:35:24 +0000 ece_incoming CGG narrow loss http://www.upstreamonline.com/incoming/1407428/cgg-narrow-loss French seismic player CGG has narrowed its quarterly loss, as it plans to make further spending reductions amid falling oil prices. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407428/cgg-narrow-loss Fri, 31 Jul 2015 09:00:58 +0000 ece_incoming Total taking PNG block reins http://www.upstreamonline.com/live/1407426/total-taking-png-block-reins French giant assumes operatorship of PRL15 from InterOil as they move towards Papua LNG FID Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407426/total-taking-png-block-reins Fri, 31 Jul 2015 08:54:11 +0000 live Enoc extends Dragon offer http://www.upstreamonline.com/incoming/1407422/enoc-extends-dragon-offer Emirates National Oil Company (Enoc) has extended its buyout offer for Turkmenistan-focused Dragon Oil, after it received only a minority of shareholders acceptance. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407422/enoc-extends-dragon-offer Fri, 31 Jul 2015 08:20:36 +0000 ece_incoming Three in race for ADOC’s Hail development job http://www.upstreamonline.com/live/1407420/three-in-race-for-adocs-hail-development-job At least three leading engineering, procurement and construction players are in the frame for the development of the Hail field operated by Abu Dhabi Oil Company (ADOC) off the United Arab Emirates. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407420/three-in-race-for-adocs-hail-development-job Fri, 31 Jul 2015 07:23:29 +0000 live M&P sees sales, output slip http://www.upstreamonline.com/live/1407419/mandp-sees-sales-output-slip Sales and production slipped in the first half at French operator Maurel & Prom (M&P) as the Africa-focused player also hit technical problems in Gabon. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407419/mandp-sees-sales-output-slip Fri, 31 Jul 2015 07:15:40 +0000 live Savannah inks new Niger PSC deal http://www.upstreamonline.com/live/1407418/savannah-inks-new-niger-psc-deal UK player Savannah Petroleum has confirmed the award of two more blocks in Niger as it took control of the R3/R4 production sharing contract. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407418/savannah-inks-new-niger-psc-deal Fri, 31 Jul 2015 06:44:11 +0000 live Profit, production up at BG http://www.upstreamonline.com/live/1407417/profit-production-up-at-bg BG Group has bolstered its bottom line through asset sale gains despite revenues dropping, as production rose appreciably. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407417/profit-production-up-at-bg Fri, 31 Jul 2015 06:11:23 +0000 live South Korean trio suffer big losses http://www.upstreamonline.com/live/1407416/south-korean-trio-suffer-big-losses South Korea's big three offshore fabricators Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering have reportedly posted substantial losses for the second quarter of 2015. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1407416/south-korean-trio-suffer-big-losses Fri, 31 Jul 2015 05:05:46 +0000 live Pryce is right for Philippines well http://www.upstreamonline.com/live/1407413/pryce-is-right-for-philippines-well Philippines company Pryce Corporation has joined the joint venture that will drill imminently the large Hawkeye-1 offshore exploration well. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1407413/pryce-is-right-for-philippines-well Fri, 31 Jul 2015 02:36:14 +0000 live Suncor triples profits, slashes spending http://www.upstreamonline.com/live/1407412/suncor-triples-profits-slashes-spending Canadian producer Suncor tripled its quarterly profits but said it would slash spending for the second time in 2015. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407412/suncor-triples-profits-slashes-spending Fri, 31 Jul 2015 02:03:37 +0000 live Offshore well planned in Japan http://www.upstreamonline.com/live/1407410/offshore-well-planned-in-japan Japanese independent Inpex has been commissioned by the government's Ministry of Economy, Trade and Industry to drill one offshore exploration well off the country's south-west coast. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1407410/offshore-well-planned-in-japan Fri, 31 Jul 2015 01:22:53 +0000 live Cheniere signs deal for Corpus Christi gas http://www.upstreamonline.com/live/1407409/cheniere-signs-deal-for-corpus-christi-gas Houston-based Cheniere Energy has signed a sale and purchase agreement for liquefied natural gas with Central El Campesino that will see the Chilean power company take columes from the Corpus Christi LNG plant in Texas. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407409/cheniere-signs-deal-for-corpus-christi-gas Fri, 31 Jul 2015 00:50:31 +0000 live Vantage denies role in Brazil bribes http://www.upstreamonline.com/live/1407408/vantage-denies-role-in-brazil-bribes Houston-based Vantage Drilling distanced itself from reports that a powerful lobbyist in Brazil had admitted to bribing officials at state-run Petrobras. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407408/vantage-denies-role-in-brazil-bribes Fri, 31 Jul 2015 00:19:10 +0000 live US judge fines Shell Arctic protesters http://www.upstreamonline.com/live/1407403/us-judge-fines-shell-arctic-protesters Greenpeace activists attempting to block Shell's Arctic drilling plans by suspending themselves from a Portland, Oregon bridge now face hefty fines for every hour they continue dangle there. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407403/us-judge-fines-shell-arctic-protesters Thu, 30 Jul 2015 22:04:54 +0000 live Pan American cashes up for drilling http://www.upstreamonline.com/live/1407402/pan-american-cashes-up-for-drilling Pan American Energy has lined up $520 million in financing to drill for oil and gas in Argentina from international bank IFC. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1407402/pan-american-cashes-up-for-drilling Thu, 30 Jul 2015 21:13:35 +0000 live Fluor sees rise in oil & gas profits http://www.upstreamonline.com/live/1407401/fluor-sees-rise-in-oil-and-gas-profits US engineering firm Fluor has reported a 21% jump in second-quarter profits for its oil and gas business segment, a spike that was offset by losses in other units. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407401/fluor-sees-rise-in-oil-and-gas-profits Thu, 30 Jul 2015 21:09:20 +0000 live Bill to repeal crude export ban advances http://www.upstreamonline.com/live/1407398/bill-to-repeal-crude-export-ban-advances US senators took a major step Thursday toward lifting the country's 40-year-old ban on crude oil exports. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407398/bill-to-repeal-crude-export-ban-advances Thu, 30 Jul 2015 19:35:53 +0000 live Linn bleeds cash, cuts payouts http://www.upstreamonline.com/live/1407400/linn-bleeds-cash-cuts-payouts Shares of master limited partnership Linn Energy plunged by more than 25% in intraday trading after the company announced it was suspending dividends and distributions at Linn and its sister company LinnCo. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1407400/linn-bleeds-cash-cuts-payouts Thu, 30 Jul 2015 18:49:11 +0000 live Murphy revamps deep-water strategy http://www.upstreamonline.com/live/1407399/murphy-revamps-deep-water-strategy US independent Murphy Oil has revamped its deep-water exploration strategy to focus on lower-risk drilling after announcing another dry hole in the US Gulf of Mexico. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407399/murphy-revamps-deep-water-strategy Thu, 30 Jul 2015 18:43:49 +0000 live Ensco 'not done' cutting costs http://www.upstreamonline.com/live/1407394/ensco-not-done-cutting-costs Drilling contractor Ensco, which has trimmed its budget this year through layoffs and taking rigs off the market, is not finished cutting costs, company chief executive Carl Trowell said on a call Thursday. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407394/ensco-not-done-cutting-costs Thu, 30 Jul 2015 17:56:11 +0000 live New oil sheen spotted off California http://www.upstreamonline.com/live/1407396/new-oil-sheen-spotted-off-california The US Coast Guard is investigating a mysterious oil sheen in the Pacific Ocean, the second hydrocarbon release to hit the California coast in recent months. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407396/new-oil-sheen-spotted-off-california Thu, 30 Jul 2015 16:04:13 +0000 live Bids in Aramco’s Fadhili gas plant job http://www.upstreamonline.com/live/1407383/bids-in-aramcos-fadhili-gas-plant-job Saipem, Petrofac and a clutch of Far Eastern contractors have submitted bids to compete for the construction of a gas plant for Saudi Aramco, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407383/bids-in-aramcos-fadhili-gas-plant-job Thu, 30 Jul 2015 14:49:54 +0000 live Saipem ‘linked to Petrobras scandal’ http://www.upstreamonline.com/incoming/1407382/saipem-linked-to-petrobras-scandal Italian player Saipem was“unfairly favoured” by former Petrobras executive Renato Duque on a 2011-gas pipeline contract for the Lula offshore pre-salt field, according to reports. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407382/saipem-linked-to-petrobras-scandal Thu, 30 Jul 2015 14:29:15 +0000 ece_incoming Blast shuts Iraq-Turkey pipeline http://www.upstreamonline.com/incoming/1407379/blast-shuts-iraq-turkey-pipeline The Kirkuk-Ceyhan pipeline between Turkey and the Kurdistan region of Iraq has been shut down following an explosion in Turkey’s south-east province of Sirnak.  (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407379/blast-shuts-iraq-turkey-pipeline Thu, 30 Jul 2015 14:20:22 +0000 ece_incoming TurkStream talks ‘stall’ http://www.upstreamonline.com/live/1407368/turkstream-talks-stall The Gapzrom-led Turkish Stream (TurkStream) pipeline project has hit a snag as negotiations between Russia and Turkey on gas pricing have broken down, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407368/turkstream-talks-stall Thu, 30 Jul 2015 13:11:21 +0000 live Oxy profit slumps http://www.upstreamonline.com/incoming/1407367/oxy-profit-slumps Occidental Petroleum saw its profit take a significant dive in the second quarter of the year, despite an increase in production in the period. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407367/oxy-profit-slumps Thu, 30 Jul 2015 11:48:20 +0000 ece_incoming OGDC strikes in Pakistan http://www.upstreamonline.com/incoming/1407366/ogdc-strikes-in-pakistan Pakistan’s Oil & Gas Development Company (OGDC) has made a discovery at its onshore Chak Naurang South-1 exploration well, in Punjab. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407366/ogdc-strikes-in-pakistan Thu, 30 Jul 2015 11:43:04 +0000 ece_incoming Majors, minnows drawn to Mozambique round http://www.upstreamonline.com/live/1407363/majors-minnows-drawn-to-mozambique-round Sixteen players, ranging from supermajors to unknown minnows, have applied to bid for acreage as operators and non-operators in Mozambique's fifth licensing round, which closed on Thursday. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407363/majors-minnows-drawn-to-mozambique-round Thu, 30 Jul 2015 11:29:25 +0000 live ConocoPhillips makes loss but output strong http://www.upstreamonline.com/live/1407352/conocophillips-makes-loss-but-output-strong ConocoPhillips posted a net loss in the second quarter but saw production excluding Libyan flows increase. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407352/conocophillips-makes-loss-but-output-strong Thu, 30 Jul 2015 11:08:39 +0000 live Cenovus reveals job cuts plan http://www.upstreamonline.com/live/1407356/cenovus-reveals-job-cuts-plan Cenovus is letting go up to 400 staff at its Calgary headquarter as the Canadian oil sands giant seeks further cost cuts amid a second-quarter profit drop. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407356/cenovus-reveals-job-cuts-plan Thu, 30 Jul 2015 10:37:10 +0000 live H&P profit dives on revenue drop http://www.upstreamonline.com/live/1407353/handp-profit-dives-on-revenue-drop US land-drilling specialist sees net profit chopped in half and expects tougher final quarter Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407353/handp-profit-dives-on-revenue-drop Thu, 30 Jul 2015 10:11:28 +0000 live Iona goes further with restructuring plans http://www.upstreamonline.com/incoming/1407351/iona-goes-further-with-restructuring-plans Financially troubled Iona Energy has called its bondholders to a meeting to approve a restructuring plan for the company that aims to sell off stakes in some assets to cover outstanding debt. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407351/iona-goes-further-with-restructuring-plans Thu, 30 Jul 2015 09:55:34 +0000 ece_incoming Wood Group wins Browse contract http://www.upstreamonline.com/incoming/1407350/wood-group-wins-browse-contract Wood Group Kenny has won a $6 million contract to carry out front-end engineering and design (FEED) for the Woodside Petroleum-operated proposed Browse floating liquefied natural gas (FLNG) development, off Western Australia. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407350/wood-group-wins-browse-contract Thu, 30 Jul 2015 09:50:28 +0000 ece_incoming Otto’s Hawkeye spud imminent http://www.upstreamonline.com/live/1407331/ottos-hawkeye-spud-imminent Australia’s Otto Energy is set to spud a well on the Hawkeye oil prospect off the Philippines this weekend after a Maersk drillship arrived on site. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407331/ottos-hawkeye-spud-imminent Thu, 30 Jul 2015 08:25:51 +0000 live Cape gets $15.2m Clair Ridge work http://www.upstreamonline.com/incoming/1407341/cape-gets-usd-152m-clair-ridge-work Service provider Cape has been awarded a £9.8 million ($15.2 million) contract from BP for works on the Clair Ridge project, off the UK. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407341/cape-gets-usd-152m-clair-ridge-work Thu, 30 Jul 2015 08:09:46 +0000 ece_incoming Centrica scaling back E&P http://www.upstreamonline.com/live/1407337/centrica-scaling-back-eandp UK gas player Centrica is slashing thousands of jobs as it scales back its exploration and production (E&P) division and cuts costs. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407337/centrica-scaling-back-eandp Thu, 30 Jul 2015 08:03:21 +0000 live Subsea 7 in $500m BP Egypt deal http://www.upstreamonline.com/incoming/1407334/subsea-7-in-usd-500m-bp-egypt-deal Oslo-listed contractor Subsea 7 has been awarded a $500 million contract from BP for the development of the Taurus and Libra subsea fields off Alexandria in Egypt. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407334/subsea-7-in-usd-500m-bp-egypt-deal Thu, 30 Jul 2015 07:53:17 +0000 ece_incoming Downstream saves Repsol in H1 http://www.upstreamonline.com/live/1407329/downstream-saves-repsol-in-h1 Vast improvement in downstream earnings covers loss for upstream segment at Spanish player Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407329/downstream-saves-repsol-in-h1 Thu, 30 Jul 2015 07:03:15 +0000 live Technip in red on restructure charge http://www.upstreamonline.com/live/1407328/technip-in-red-on-restructure-charge Technip slumped deep into the red in the second quarter as it took a one-off charge to restructure the company amid continued low oil prices. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407328/technip-in-red-on-restructure-charge Thu, 30 Jul 2015 06:45:38 +0000 live Eni runs up loss despite output hike http://www.upstreamonline.com/live/1407327/eni-runs-up-loss-despite-output-hike Italian major has made an adjusted net loss in the second quarter despite production increasing significantly. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407327/eni-runs-up-loss-despite-output-hike Thu, 30 Jul 2015 06:28:49 +0000 live Shell chops capex, jobs http://www.upstreamonline.com/live/1407326/shell-chops-capex-jobs Shell has cut its expected capital expenditure for the year and warned of thousands of job losses as low oil prices and weaker output sent profit down. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407326/shell-chops-capex-jobs Thu, 30 Jul 2015 06:19:13 +0000 live AWE takes aim in Bohai Bay http://www.upstreamonline.com/live/1407325/awe-takes-aim-in-bohai-bay AWE said today it will participate in an oil exploration well to be drilled shortly in China's shallow-water Bohai Bay. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1407325/awe-takes-aim-in-bohai-bay Thu, 30 Jul 2015 04:49:23 +0000 live Recon to buy Chinese company http://www.upstreamonline.com/live/1407323/recon-to-buy-chinese-company Beijing-based Recon Technology has agreed to acquire Chinese oilfield services provider Qinghai Huayou Downhole Technologies for a combination of cash and shares. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1407323/recon-to-buy-chinese-company Thu, 30 Jul 2015 04:35:43 +0000 live Total to market Papua LNG http://www.upstreamonline.com/live/1407322/total-to-market-papua-lng Total has indicated it wants to have committed liquefied natural gas buyers before making a final investment decision on the Papua LNG project in Papua New Guinea. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1407322/total-to-market-papua-lng Thu, 30 Jul 2015 03:02:53 +0000 live Murphy makes new Malaysia find http://www.upstreamonline.com/live/1407321/murphy-makes-new-malaysia-find Murphy Oil has made its eight consecutive exploration discovery in Malaysian deep-water Block H, which is the location of the under-construction Rotan floating liquefied natural gas vessel. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1407321/murphy-makes-new-malaysia-find Thu, 30 Jul 2015 02:26:22 +0000 live Atwood profits slide http://www.upstreamonline.com/live/1407320/atwood-profits-slide Offshore driller Atwood Oceanics reported a dip in second-quarter profits as revenues fell over the previous quarter. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407320/atwood-profits-slide Wed, 29 Jul 2015 23:39:24 +0000 live Noble posts lower profits, rigs keep working http://www.upstreamonline.com/live/1407319/noble-posts-lower-profits-rigs-keep-working Offshore driller Noble Corporation reported lower quarterly profits but managed to keep its rig fleet largely active in a market that has weighed heavily on oil and gas contractors. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407319/noble-posts-lower-profits-rigs-keep-working Wed, 29 Jul 2015 23:07:14 +0000 live Consol hits big with Utica wildcat http://www.upstreamonline.com/live/1407318/consol-hits-big-with-utica-wildcat Consol Energy hit the second-highest flowing Utica Shale dry gas well ever with the Appalachian conglomerate’s first wildcat in Pennsylvania to test that portion of the formation. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1407318/consol-hits-big-with-utica-wildcat Wed, 29 Jul 2015 22:54:47 +0000 live Ensco posts profits http://www.upstreamonline.com/live/1407315/ensco-posts-profits Drilling contractor Ensco Wednesday reported second-quarter profits as drilling costs declined and 2014 impairment charges were not repeated this year. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407315/ensco-posts-profits Wed, 29 Jul 2015 22:51:37 +0000 live Anadarko reveals Coronado plans http://www.upstreamonline.com/live/1407313/anadarko-reveals-coronado-plans US independent Anadarko Petroleum revealed plans for the Coronado discovery in the deep-water US Gulf, having re-secured the leases that had previously been terminated. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407313/anadarko-reveals-coronado-plans Wed, 29 Jul 2015 21:56:41 +0000 live Whiting profits drop as production rises http://www.upstreamonline.com/live/1407311/whiting-profits-drop-as-production-rises US independent Whiting Petroleum has reported heavy second-quarter financial losses even as production climbs. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407311/whiting-profits-drop-as-production-rises Wed, 29 Jul 2015 21:39:55 +0000 live EP reveals Eagle Ford buy http://www.upstreamonline.com/live/1407312/ep-reveals-eagle-ford-buy EP Energy identified itself as the buyer of a package of assets in the Eagle Ford Shale from Goodrich Petroleum for $118 million. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1407312/ep-reveals-eagle-ford-buy Wed, 29 Jul 2015 21:26:06 +0000 live Terra Nova in 'major' gas release http://www.upstreamonline.com/live/1407310/terra-nova-in-major-gas-release Canada's Suncor Energy has reported a "major" hydrocarbon release from the Terra Nova floating production, storage and offloading vessel off the country's East Coast. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407310/terra-nova-in-major-gas-release Wed, 29 Jul 2015 21:01:00 +0000 live Mexico 'to postpone deep-water round' http://www.upstreamonline.com/live/1407218/mexico-to-postpone-deep-water-round Mexico's energy minister said the country will postpone auctions for deep-water oil and gas licenses and adjust the terms of upcoming tenders after its inaugural bid round failed to meet the government's modest expectations. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407218/mexico-to-postpone-deep-water-round Wed, 29 Jul 2015 17:17:22 +0000 live Climbers block Shell's Arctic vessel http://www.upstreamonline.com/live/1407208/climbers-block-shells-arctic-vessel Activists dangled from a bridge in Portland Wednesday in an attempt to block Shell's icebreaker from leaving port and making its way to the Arctic. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407208/climbers-block-shells-arctic-vessel Wed, 29 Jul 2015 16:40:39 +0000 live OMV ‘to sell stake in Rosebank’ http://www.upstreamonline.com/incoming/1407203/omv-to-sell-stake-in-rosebank OMV has reportedly put up a stake in the Chevron-operated Rosebank project in the UK North Sea up for sale. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407203/omv-to-sell-stake-in-rosebank Wed, 29 Jul 2015 16:06:42 +0000 ece_incoming Lonestar scores $100m drill deal http://www.upstreamonline.com/live/1407201/lonestar-scores-usd-100m-drill-deal Australian-listed Lonestar Resources has lined up a $100 million joint development agreement with IOG Capital to fund additional drilling the Eagle Ford Shale play in Texas. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1407201/lonestar-scores-usd-100m-drill-deal Wed, 29 Jul 2015 15:48:41 +0000 live Total ‘jumping back into Iran’ http://www.upstreamonline.com/incoming/1407198/total-jumping-back-into-iran French player Total is preparing to jump back into developing fields in Iran, according to local reports in the Middle Eastern country. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407198/total-jumping-back-into-iran Wed, 29 Jul 2015 15:19:21 +0000 ece_incoming Irish spud for Petronas http://www.upstreamonline.com/live/1407196/irish-spud-for-petronas The operator of the SEL 4/07 licence in the north of the Celtic Sea spudded the wildcat on the Midleton prospect in the early hours of Wednesday morning with the semi-submersible Ocean Guardian. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407196/irish-spud-for-petronas Wed, 29 Jul 2015 14:50:04 +0000 live Lekoil suspends Otakikpo well http://www.upstreamonline.com/incoming/1407194/lekoil-suspends-otakikpo-well Lekoil has temporarily suspended activities at a well on its Otakikpo field in the south-eastern part of the Niger Delta, off Nigeria. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407194/lekoil-suspends-otakikpo-well Wed, 29 Jul 2015 13:46:56 +0000 ece_incoming Saipem warns of hefty loss http://www.upstreamonline.com/live/1407193/saipem-warns-of-hefty-loss Saipem has warned of a significant loss this year as it booked hefty impairments in the second quarter and set about restructuring the company, which will see thousands of jobs lost. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407193/saipem-warns-of-hefty-loss Wed, 29 Jul 2015 13:39:06 +0000 live Dynamic confirms Aramco LTA deal http://www.upstreamonline.com/live/1407182/dynamic-confirms-aramco-lta-deal Confirmation of contract leaves just Saipem to speak up on lucrative awards in Saudi Arabia Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407182/dynamic-confirms-aramco-lta-deal Wed, 29 Jul 2015 12:32:58 +0000 live Hess dives into the red http://www.upstreamonline.com/live/1407180/hess-dives-into-the-red US independent Hess plunged to a significant loss in the second quarter as it booked a sizeable impairment and reduced revenues, despite an output hike. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407180/hess-dives-into-the-red Wed, 29 Jul 2015 12:15:18 +0000 live Marathon, OMV return Croatia blocks http://www.upstreamonline.com/incoming/1407178/marathon-omv-return-croatia-blocks Houston-based Marathon Oil and Austrian state player OMV have returned seven offshore exploration licences to Croatia, due to low oil prices and investments cut backs. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407178/marathon-omv-return-croatia-blocks Wed, 29 Jul 2015 12:12:35 +0000 ece_incoming Novatek profit jumps on liquids output http://www.upstreamonline.com/live/1407179/novatek-profit-jumps-on-liquids-output Rising liquids volumes sent profit up at Russian private player Novatek in the second quarter as it battled falling crude prices in part through a devaluation of the US dollar. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407179/novatek-profit-jumps-on-liquids-output Wed, 29 Jul 2015 11:24:04 +0000 live SembMarine profit drops http://www.upstreamonline.com/live/1407174/sembmarine-profit-drops Reduced sales, some higher operating expenses and increased finance costs sent net profit down at Singapore-based yard in the second quarter. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407174/sembmarine-profit-drops Wed, 29 Jul 2015 10:32:52 +0000 live Sea Trucks in Permaducto Mexico charter http://www.upstreamonline.com/incoming/1407168/sea-trucks-in-permaducto-mexico-charter Sea Trucks Group has been awarded a charter for its Jascon 31 vessel from Mexico’s Permaducto for work on the Ku Maloob Zaap (KMZ) oilfield complex in the Gulf of Mexico. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407168/sea-trucks-in-permaducto-mexico-charter Wed, 29 Jul 2015 10:06:49 +0000 ece_incoming Statoil starts Gullfaks South flows http://www.upstreamonline.com/incoming/1407166/statoil-starts-gullfaks-south-flows Production from the Gullfaks South (GSO) fast-track project for improved oil recovery in the North Sea has started, Norwegian operator Statoil said on Wednesday. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407166/statoil-starts-gullfaks-south-flows Wed, 29 Jul 2015 09:26:46 +0000 ece_incoming LGO hits more Trinidad pay http://www.upstreamonline.com/incoming/1407160/lgo-hits-more-trinidad-pay LGO Energy has discovered recoverable hydrocarbons at its latest development well on the Goudron field in Trinidad, the London listed player said on Wednesday. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407160/lgo-hits-more-trinidad-pay Wed, 29 Jul 2015 08:15:56 +0000 ece_incoming Subsea 7 cuts staff as profit chopped http://www.upstreamonline.com/live/1407158/subsea-7-cuts-staff-as-profit-chopped Subsea 7 is to cut its staff by around 2500 within the next year as it reacts to continued poor market conditions, which sent its second quarter profit down. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407158/subsea-7-cuts-staff-as-profit-chopped Wed, 29 Jul 2015 07:14:21 +0000 live Tullow cuts losses in first half http://www.upstreamonline.com/live/1407156/tullow-cuts-losses-in-first-half Tullow Oil continued to bleed red ink in the first half as revenues sank on the low oil price and asset sales. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407156/tullow-cuts-losses-in-first-half Wed, 29 Jul 2015 06:49:41 +0000 live Total in $876m West of Shetland sale http://www.upstreamonline.com/live/1407157/total-in-usd-876m-west-of-shetland-sale SSE E&P UK takes sizeable stake in numerous fields off UK from French player Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407157/total-in-usd-876m-west-of-shetland-sale Wed, 29 Jul 2015 06:35:19 +0000 live Refining helps Total in Q2 http://www.upstreamonline.com/live/1407155/refining-helps-total-in-q2 French supemajor keeps profit drop to a minimum with high refining sales and higher output Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407155/refining-helps-total-in-q2 Wed, 29 Jul 2015 06:22:08 +0000 live Hibiscus ready for Sea Lion http://www.upstreamonline.com/live/1407154/hibiscus-ready-for-sea-lion Malaysian company Hibiscus Petroleum is limbering up to spud an oil exploration well in Australia's offshore Gippsland basin. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1407154/hibiscus-ready-for-sea-lion Wed, 29 Jul 2015 05:17:53 +0000 live Mad Dog 2 for under $10bn http://www.upstreamonline.com/live/1407153/mad-dog-2-for-under-usd-10bn BP said it believes its Mad Dog 2 project in the Gulf of Mexico can be built for less than $10 billion, which is 50% less than the original estimates some years ago. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1407153/mad-dog-2-for-under-usd-10bn Wed, 29 Jul 2015 03:39:29 +0000 live Husky completes Madura platform http://www.upstreamonline.com/live/1407151/husky-completes-madura-platform Husky Energy said construction of a wellhead platform for its Madura BD field development is now complete, and project start-up is planned for 2017. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1407151/husky-completes-madura-platform Wed, 29 Jul 2015 02:26:35 +0000 live Anadarko confirms Kronos discovery http://www.upstreamonline.com/live/1407149/anadarko-confirms-kronos-discovery US explorer Anadarko Petroleum confirmed a natural gas discovery at the Kronos wildcat offshore Colombia and provided new details on drilling operations in the deep-water US Gulf of Mexico. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407149/anadarko-confirms-kronos-discovery Tue, 28 Jul 2015 22:38:47 +0000 live Oil recovers on stockpile hopes http://www.upstreamonline.com/live/1407146/oil-recovers-on-stockpile-hopes Oil prices steadied on Tuesday, recovering from near six-month lows, with US crude rising more than 1% as bets for a drop in US crude stockpiles offset worries about a global supply glut and equity market meltdown in China. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407146/oil-recovers-on-stockpile-hopes Tue, 28 Jul 2015 21:52:54 +0000 live Details emerge in fatal rig collapse http://www.upstreamonline.com/live/1407147/details-emerge-in-fatal-rig-collapse Authorities have provided details and identified the victims of an oilfield accident last week that left one man dead and another in critical condition while causing an apparent oil spill. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407147/details-emerge-in-fatal-rig-collapse Tue, 28 Jul 2015 21:48:15 +0000 live Chevron to cut 1500 jobs http://www.upstreamonline.com/live/1407141/chevron-to-cut-1500-jobs US supermajor Chevron will axe 1500 corporate positions in the coming months in an effort to cut $1 billion from its budget, a company spokeswoman said Tuesday. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407141/chevron-to-cut-1500-jobs Tue, 28 Jul 2015 21:32:59 +0000 live Swift taps Lazard to assess options http://www.upstreamonline.com/live/1407142/swift-taps-lazard-to-assess-options Swift Energy has hired Lazard Freres & Company to advise the company on its strategic alternatives after it failed to close on a $640 million loan and saw its debt outlook downgraded by ratings agency Moody’s. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1407142/swift-taps-lazard-to-assess-options Tue, 28 Jul 2015 21:21:52 +0000 live Anadarko profits as drilling costs fall http://www.upstreamonline.com/live/1407140/anadarko-profits-as-drilling-costs-fall US independent Anadarko Petroleum posted a lower quarterly profit, but touted its production growth and efficiency gains in onshore drilling. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407140/anadarko-profits-as-drilling-costs-fall Tue, 28 Jul 2015 21:11:44 +0000 live Consol cancels coal IPO, cuts gas capex http://www.upstreamonline.com/live/1407138/consol-cancels-coal-ipo-cuts-gas-capex Appalachian energy conglomerate Consol will delay a planned spinoff of its metallurgical coal business due to poor market conditions and is reining in spending at its upstream division after reporting a steep loss for the quarter. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1407138/consol-cancels-coal-ipo-cuts-gas-capex Tue, 28 Jul 2015 20:27:05 +0000 live ConocoPhillips to sell Cook Inlet http://www.upstreamonline.com/live/1407136/conocophillips-to-sell-cook-inlet ConocoPhillips Alaska is putting its Cook Inlet assets up for sale so it can focus on its role in the proposed Alaska liquefied natural gas project on the Kenai Peninsula on the North Slope. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407136/conocophillips-to-sell-cook-inlet Tue, 28 Jul 2015 19:41:47 +0000 live Oklahoma operators shut wells after quakes http://www.upstreamonline.com/podcast/1407135/oklahoma-operators-shut-wells-after-quakes A cluster of earthquakes in central Oklahoma have led operators to shut-in two wastewater disposal wells and reduce volume by half in a third, according to state regulators. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/podcast/1407135/oklahoma-operators-shut-wells-after-quakes Tue, 28 Jul 2015 17:59:25 +0000 podcast